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was at the airport at lax when this shooting occurred. nick, are you joining us? >> yeah, i'm here. >> you can tell us what you saw? >> yeah, i was in the virgin america terminal waiting in line for security on the upper mezzanine, and we were just standing there in line and somebody started shooting. sounded like either a .44 or some big caliber gun or shotgun, and it was within 15 feet of where i was standing and it seemed like they were shooting away from where i was. i couldn't really see the shooter, i guess, but it was very close in terms of the sound and people standing then running. >> nick, where was this in relation to airport security and the check-in, did this person, the shots that were fired, did this come from a place that was beyond the security checkpoint? >> from what i -- no, from what i can tell, it seemed like -- i had just been dropped off by my wife at the main entrance where the cars are pulling up and i went up the escalator and there's an upper maez demeezzane you wait in line for security check-in and i was outside and the shooter was downstairs i guess where the car had
that goes well, if they cut it's going to be like japan. >> that does it for us. have a great rest of the day. "power lunch" begins now. >>> and we welcome you to "power lunch" and we begin with breaking news. embattled hedge fund sack capital reaching a settlement with the government, a landmark insider trading case against the firm. steven cohen's hedge fund pleading guilty and paying almost $2 billion stemming from the investigation that led almost five years. the u.s. attorney for the southern district of new york is set to hold a news conference at that podium moments from now. when that begins we will take you live. my partner tyler at the nyse, first to kate kelly at the news ken fre -- conference, kate? >> we're waiting for the start of this slated 1:00 press conference with preet bharara. tough terms coming out of his office from the settlement reached. $1.8 billion fine related to insider trading as well as the surrender of their license. their ability essentially to manage outside money. they will become a family office shortly after the settlement is approved by judges.
above 50. >> weiss. >> boeing. buy it go long. >> that's all for us. great rest of the day. power starts now. >> "halftime" is over and "power lunch" and the second half of the trading day starts right now. >> scott, thank you very much. it has been a good year for stocks, but is a pullback inevitable? lots of people think it may well be. we're going to take a look at whether shorting stocks right now is the way to go. jc penney moving higher. a lot of people have been short that one but it is up since its lows by about 50%. higher after its earnings release. we'll do bait whether it is worth your investment dollar from the lows up now more than 50%. that doesn't get you hold, not by long shot. amazon, quietly expanding its private label business. we're going to discuss whether this is good or bad for its bottom line and how will they compete in the private label wars? my partner sue on the floor of the new york stock exchange. >> hi, ty. thanks. the dow and s&p are hovering near their record levels. caught up on where the market stands. the dow jones industrial average up about 20 point
of apple tesla and celgene. apple down.3%, tesla down 15%. joe is chief market strategist with u.s. trust division of bank of america private wealth management. bob joins me here on the floor as well to talk about this market. joe, i'm going to start with you. as we move into the latter part of the year after such a spectacular performance by stocks, do you think the s&p 500's ten sectors will have a perfect ten all ending the year with double-digit gains? >> you know, sue, i do. it's very interesting, it hasn't happened since 1995. so even the so-called laggards, telecom, utilities, up 14, 15% and i think there's good liqu liquidity from the central banks around the world. a lot of retail investors coming back into equities. a host of reasons why i think we it continue to push higher across all sectors. >> now they've had pretty spectacular gains so far. how much more do you think is in this move and do you think that perhaps just a modest advance, that certainly would provide us with a very strong end of the year, but is there more after that or not? >> that's a good question, sue. i un
, watch out saudi arabia the u.s. is expected to overtake you in oil production faster than anyone thought. so what? so a lot. from pump prices falling to jobs to politics, full coverage of that ahead. >>> a half a billion dollars of very special art up for grabs tonight at christie's. this is one of the pieces on the block. it is warhol's black and white classic coca-cola bottle. we'll take you inside the world of the auction. first to sue at the nyse. >> hi, ty. good to see you. we have big names in the airline sector that's moving the transports as well which are up about 30 points on the day. here's dom with the details. hey. >> thanks, sue. we're finally going to see a merger between amr and u.s. airways going to create the biggest airline. the two carriers said they reached an agreement with the justice department as well as state attorneys general to allow a deal to happen. u.s. airways stock turned negative after being halted on this news. as part of the accord american and u.s. air will give up key facilities and capacity at seven airports in order to facilitate more industry-wide
about this young person and what he's doing to change a field that we're all going to use over the next few years. first, though, to sue at the nyse. >> can't wait, ty. good to see you. the weather is turning pretty rough outside of the nyse at this hour. if the dow closes above 16,072 it will be another record close and looks like we're heading in that direction. in 12 months the dow is up 24%. right now it's up 20 points at 16,093. take a look at the nasdaq, well above the 4,000 mark and up almost 35% in a year. right now, up a half a percent or 21 -- almost 22 points at 4,016.43. sheila dharmarajan is in times square and starts us with our coverage. >> hey there, nasdaq firmly above the 4 k level around 4,016 and in part due to some big gains by apple up by more than 1.5%. google and amazon hitting new all-time highs. remember, we haven't seen nasdaq 4,000 since 2000 so we thought it would be worth to take a look at how nasdaq 4k is now versus how it was back then. back then remember, companies could go profitable if you just had eyeball accounts or a dotcom in your title. right now
on wells fargo. . >> that does it for us. have a great weekend. we'll see you on the other side. power starts right now. >> what a way to end the week with another record breaker for the dow and the s&p. the dow is now up 143% from the 2009 bottom. the nasdaq not at a record but just 27 points from nasdaq's 4000. will we do it today? new documents are circulating that the white house had fair warning months in advance that healthercare.gov was simply not ready for action. we'll be talking about that in just a few moments. a brand new study out showing the individual investor how to spot the next winning ipo and there's a couple of in the pipeline. we have that study four. tyler is out but kayla is my partner. >> we're watching the markets. close to hitting all time highs. the dow 15,913. about 20 minutes from the intradition day high. the nasdaq closing in on 4000 yet again, 27 points away. we have two reports on ways to play this still rising market. we have dominic chu looking at r growth but first let's go to dividend stocks. >> two sectors that offer the highe jefest yields, health
to happen 234 in january or if february. >> weigh in on that, you said in your morning note to us it is a goldilocks situation to a certain extent, correct? >> well just look at yesterday. we had pretty decent labor data in form of a jobless claims. as long as we're oscillating back and forth and nothing is getting too hot the fed is going to stay involved. i'll disagree with kenny on one thing, i believe taper is tightening. we're always at one certain point, getting more accommodative or less accommodati accommodative. less it's the equivalent of tightening. the fed has managed to convince the market they're going to keep short-term rates lower longer at the rick of letting the long end go where it wants to go. >> yeah. >> it's gone higher. the stock market is going to look worse if there's a yield somewhere else. but i'm still a bull in the stock market. >> jeff, and then kenny you get to respond. >> jeff what do you do going into the year? this is getting to be, you know, a lot of the guys who are long this market and have had a great year, they want to close their books on th
with walmart u.s. ceo bill simon. it is walmart's busiest week of the year but the planning has been in the works for months. mike duke told the board of his decision in november, when the vote was cast for mcmillon which is how it happened with duke when his predecessor scott announced he would step down. duke will be ceo through the holiday quarter and will transition mcmillon over the next couple critical months as lee scott did for him. the company lines up with the company's fiscal year. they will close out the all-important holiday quarter and mcmillon will take over. duke will remain as chairman, stay on and advise mr. mcmillon and the like. >> thank you very much. let's get reaction to the news. cnbc market analyst stacy and chris, retail hardlines analyst at jpmorgan. what's your immediate reaction to this walmart news? >> not totally unexpected. and if you think about doug's background here he's been with the company 20 plus years. he's a lifer at walmart and also has the experience. he's been on the u.s. side, sam's club and international. he has all the memtss to put toge
sector. >> you also have in the past talked to us about the tax-free advantages of going into different parts of the market. if someone is close to retirement, needs the income but isn't getting it from equities how would you -- and still want to be long in the market in essence how would you advise them? >> two things. number one you can own mupenies. for the top tax bracket investor 8 to 8.5% equivalent. >> we'll talk about munis in a few moments. >> choice munis that are conservative in nature. number two, national limited partnerships that deal with oil and gas deliveries, this kind of bond equivalent but the benefit of growing equity as well. >> thank you very much. jj burns, president of jj burns and associates. >> how did he figure out the name for his xep company? i want to know that? >> it took a while. >> he is an inventive guy. >> what are financial guys saying right now? tim mower is vice president of the financial consulate, member of cnbc's digital financial council and 20 member group of financial executives with cumulative asset under management of about $23 billion. wel
. that does it for us. have a terrific weekend. we'll see you on the other side. "power lunch" begins right now. >> lace them up, "halftime" is over. the second half of the trading day starts now. >> thank you very much. 204,000 jobs created in october. that a strong number. so have americans been under estimating the strength of the economy? what does it mean for the fed, for the stimulus? and most important of all, what does it mean for investors like you? that is on our agenda today. three key stock story lines, growth, stealth and fear. strategic ideas for all three. this really could be the storm of the century. look at the eye of that typhoon, this massive one stretching hey 300 miles, winds up to 235 miles an hour in asia. the philippines. lashing out there causing ship wrecks, widespread disaster, full coverage is ahead. we will talk about how it could impact business in asia and around the world. first, though, let's check in with sue at the new york stock exchange. sue? >> indeed, ty. we are fresh off of that jobs number and the markets are moving. the dow jones after a quiet star
this group easy way to get in. >> jon. >> boyd gaming, upside january call buying. >> that does it for us today. hope you have a wonderful thanksgiving. we'll see you on the other side, follow me @scott wapner cnbc and "power lunch" starts now. >> "power lunch" and the second half of the trading day starts. >> thank you very much. 'tis the season, the eve, of course, of thanksgiving. you can almost taste the it turkey. christmas just 28 days away. the ornaments coming out of garages, tree shopping about to begin, i've seen the stands already going up. in my neighborhood. the mistletoe is coming out. but -- >> ah! >> that was a woman screaming, wasn't there? that is because there's fear out there, fear for the markets in 2014, fear the rally is going to falter, fear from wall street all the way out, even into silicon valley. we have it covered today. sue is at the new york stock exchange. hi, sue. >> hi, ty. and while there is fear out there, we also have a lot of optimism as well. take a look at the russell 2,000 hitting a new record high today. right now it's up about a tenth of a percen
a beneficiary of that. the stock traders almanac tell us since 1980, about 77% of the time the nasdaq has staged a rally when it comes to the last trading days of december. maybe that's working in the nasdaq's favor right now but, of course, we are all on the hunt for those bears. sue? >> all right. thank you so much, sheila. >>> now to the dow and the s&p 500. if both of those indices close down today and the dow is off about 4 points it would be the first back-to-back loss this month. what's ahead? let's bring in bob pisani and kenny pull carry director with o'neill's security and cnbc corrector. sheila highlighted the names but tesla is up huge for the year as a whole. >> right. you have to take that in stride. it might be off 30%, but it's up how much? i mean is it still up 70% on the year. is it really in bear market territory. you know. >> given the range it's at. >> certainly it's in bear market territory if you take it just from its high but overall it's been certainly a good performer for the year. >> all the top stocks you mentioned are high names, they've moved much more than the mark
here? two reasons. first, the u.s. attorney for this area, ben wagner, has been at the epicenter of this investigation telling the "sacramento bee" he quote raised had his hand when the justice department was putting together a team to investigate jpmorgan. he and his deputies were on the cusp of announcing a case ceo when jamie dimon approached justice. second geography. wagner's district covers the worst hit areas from the oregon border through the central valley down to l.a. county. wagner says he has made mortgage fraud his office's top white collar priority indicting more than 350 people since 2008. he likens the mortgage fraud in this area to a, quote, tsunami and meantime, of course, jpmorgan took over washington mutual in 2008 and many california mortgages that went south came from wamu. according to the state senate here from '08 to '11 more than a million california homes were foreclosed on, one out of every 13 houses and six of the nation's hardest hit zip codes are in wagner's district, stockton, vallejo and where i am right now in sacramento. so this is a case that h
for the audio issue we had at the very top. you couldn't hear us. we're surrounded by the traders well, today. simon baker is here along with steve weiss, joe terranova, and stephanie link. stephanie, on a year when the health stocks have done well, health care is the second best performing sector out of the s&p 500 this year. i'm wondering what your thoughts are, and what happens with the stocks? >> i don't think anything he said is a surprise. you have to expect the blame game comes out of washington on both sides. this is a mitigated disaster. the insurance companies budget at least a year in advance. so they're a little offsides in the budgets. at the end of the day, i don't think it matters. maybe you see them reset expectations next quarter or pre-announce, in terms of reduced expectations, but you still need to be in a group that continues to grow, whether the economy is growing or not growing, so i like it. more importantly, what this did was, it sort of casted yellen in a shadow, and that was by far, to me, the more important conversation today, what she was saying. >> well, yellen c
. >> tbf, buy it. >> buy unh. >> stephanie. >> i mike macy's. >> that does it for us. have a great rest of the way. more fast at 5:00. "power" begins now. >> "halftime" is over, "power lunch" and the second half of the trading day starts right now. >> is the retail investor really back? the markets are hitting new records and lots of money is pouring back into mutual funds. some of the smartest money managers in the world will chime in on that. where are stocks going from here? there's a divergence up up up says one group of analysts and strategists. down down down says another. we have the signs you need to watch. and then, of course, we are following this still developing story in the philippines, relief workers are struggling to reach victims of that deadly super typhoon that slammed into the philippines. it killed an estimated 10,000 people. a state of calamity has been declared. live in manila for that. first to my partner ty in washington at the major investors summit. ty? >> that's exactly right, sue. thank you very much. we're here at the schwab impact conference. 2,000 register
. that does it for us. have a great week. "power" starts now. >>> happening now on "power lunch," a heck of a lot. twitter is now a public company. the opening at. nyse as smooth as mark zuckerbe zuckerberg's chin. the stock has soared. right now there you see it, $45.85. up nearly 20%. the gdp in the u.s. also soaring. on any other day, that would be our lead and biggest story. last quarter, it grew at an annualized rate of 2.8%. much stronger than just about anyone thought. we're going to dig into that number. >>> there is also evidence of a great rotation. the nasdaq falling today. the russell falling. some say that's where rebalancing would begin. older blue chip, old-school names like dupont, ibm, ge may be the beneficiaries. and europe making a big move today. cutting rates. but was it too late? and speaking of big moves, the fda officially proposes banning artificial transfats in foods like frozen pizza, cookies, crackers, refrigerated dough. that's a food group unto itself. frosting and coffee creamers. first, though, to sue. at the nyse. >> hey, ty, it's great to be here. twitte
of the day. that does it for us. don't forget, we'll be back here at robin hood with more special guests. "power lunch" begins now. >>> and we welcome you to "power lunch." i'm sue herera along with tyler mathisen. you're looking at a live shot of the airport in wichita, kansas. that is where a boeing dreamlifter cargo jet landed late yesterday. the only problem, it was supposed to land at mcconnell air force base some 12 miles away. we expect it to take off any time now. phil lebeau has been following the story, and he joins us live from chicago. phil, first of all, how did this happen? and second of all, this is a much shorter strip than mcconnell has. how's this going to work? >> reporter: let's start first with taking off and the shorter runway. the runway at jabara airport is about 6,100 feet long. typically a 747 modified like this would have a ruppway of at least 9,100 feet, a 3,000-foot difference. they're not going to take off until all parties sign off. authorities say yes, we believe we have enough room for taking off. that's the takeoff we may see relatively soon. as for how
groupon. >> overwhelmingly in a blowout. >> give us a final trade, dan. >> you know cisco into next week's report play it long into it. not there though. >> ecl i'm buying it going higher. >> steve weiss. >> stay short the bond market tbf long. >> joe. >> starbucks wants to go back up again. >> have a great day. "power" starts now. >> "halftime" is over and "power lunch" and the second half of the trading day starts right now. >> golly, that whistle was loud in my ear. going to turn it down a little bit. move over pimco total return, there is a new king in the world of mutual funds and this one may say a lot about how bullish america is on the stock market. we'll talk about that. hash "time" magazine probletag twitter ipo more reasons for anyone thinking of getting in to think twice. and beating the bully at work, maybe you've heard this story it stems from a series of incidents involving the miami dolphins. the lineman is not on the field and now may be out of a job because of bullying allegations. how do you manage a situation when it gets out of hand at work? first, though, let's
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